Examlex
What is the reliability of the three components connected in series shown below?
Probability Of Success
Refers to the chance that a given event will occur, often denoted in statistics by the symbol p.
Probability Of Failure
The probability that a system or component will not execute its designated purpose as expected.
Expected Value
A calculated average or mean of all possible outcomes of a random variable, considering the probabilities of each outcome.
Binomial Random Variable
A type of discrete random variable that arises in situations where an experiment or process is repeated a fixed number of times, with each trial having two possible outcomes (success or failure) and a constant probability of success.
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